Aspen Aerogels (NYSE:ASPN) Shares Down 4.9% on Analyst Downgrade

Aspen Aerogels, Inc. (NYSE:ASPN)’s share price was down 4.9% during trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $20.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. Aspen Aerogels traded as low as $8.54 and last traded at $8.56. Approximately 1,276,875 shares were traded during trading, a decline of 35% from the average daily volume of 1,978,913 shares. The stock had previously closed at $9.00.

ASPN has been the subject of several other research reports. Piper Sandler lowered their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Seaport Res Ptn downgraded shares of Aspen Aerogels from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Craig Hallum reduced their price objective on Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday. Roth Mkm lowered their target price on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Barclays cut their price target on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

Institutional Investors Weigh In On Aspen Aerogels

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in Aspen Aerogels by 231.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 24,365 shares of the construction company’s stock valued at $289,000 after purchasing an additional 17,012 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Aspen Aerogels by 6.3% in the 4th quarter. MetLife Investment Management LLC now owns 35,782 shares of the construction company’s stock valued at $425,000 after buying an additional 2,118 shares in the last quarter. Mesirow Institutional Investment Management Inc. raised its stake in Aspen Aerogels by 2.4% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 488,595 shares of the construction company’s stock worth $5,805,000 after acquiring an additional 11,525 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Aspen Aerogels by 25.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,018,631 shares of the construction company’s stock worth $23,983,000 after purchasing an additional 409,862 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Aspen Aerogels by 78.4% in the fourth quarter. First Trust Advisors LP now owns 492,507 shares of the construction company’s stock valued at $5,851,000 after buying an additional 216,452 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Aspen Aerogels Trading Down 5.1 %

The business’s 50-day moving average price is $12.36 and its 200-day moving average price is $18.63. The firm has a market capitalization of $701.04 million, a PE ratio of 857.56 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Aspen Aerogels had a net margin of 0.36% and a return on equity of 5.06%. As a group, analysts expect that Aspen Aerogels, Inc. will post 0.12 earnings per share for the current fiscal year.

Aspen Aerogels Company Profile

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier.